Fmr LLC boosted its holdings in shares of Denbury Resources Inc. (NYSE:DNR) by 17.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,799,417 shares of the oil and natural gas company’s stock after purchasing an additional 3,266,213 shares during the period. Fmr LLC owned 4.95% of Denbury Resources worth $104,854,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in DNR. Dimensional Fund Advisors LP increased its holdings in Denbury Resources by 191.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,946,951 shares of the oil and natural gas company’s stock valued at $35,475,000 after purchasing an additional 8,510,030 shares in the last quarter. BlackRock Inc. boosted its position in Denbury Resources by 8.4% in the 2nd quarter. BlackRock Inc. now owns 57,077,113 shares of the oil and natural gas company’s stock valued at $274,540,000 after buying an additional 4,411,023 shares during the last quarter. Wells Fargo & Company MN boosted its position in Denbury Resources by 182.1% in the 2nd quarter. Wells Fargo & Company MN now owns 2,230,528 shares of the oil and natural gas company’s stock valued at $10,729,000 after buying an additional 1,439,701 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Denbury Resources in the 2nd quarter valued at $6,688,000. Finally, Millennium Management LLC boosted its position in Denbury Resources by 29.5% in the 1st quarter. Millennium Management LLC now owns 4,416,547 shares of the oil and natural gas company’s stock valued at $12,101,000 after buying an additional 1,005,671 shares during the last quarter. 85.02% of the stock is owned by hedge funds and other institutional investors.
In other news, CAO James S. Matthews sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $4.86, for a total value of $97,200.00. Following the transaction, the chief accounting officer now directly owns 459,949 shares in the company, valued at approximately $2,235,352.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.
Shares of DNR opened at $5.29 on Tuesday. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 38.14 and a beta of 3.39. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.43 and a current ratio of 0.43. Denbury Resources Inc. has a 52 week low of $1.04 and a 52 week high of $5.84.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. Denbury Resources had a return on equity of 25.74% and a net margin of 14.77%. The firm had revenue of $387.06 million for the quarter, compared to analyst estimates of $328.72 million. analysts forecast that Denbury Resources Inc. will post 0.47 EPS for the current year.
A number of research analysts have commented on DNR shares. ValuEngine lowered Denbury Resources from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Royal Bank of Canada reiterated a “hold” rating and issued a $5.00 price objective on shares of Denbury Resources in a research report on Friday, July 13th. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Friday, July 20th. Stifel Nicolaus increased their price objective on Denbury Resources from $1.30 to $4.60 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Finally, Johnson Rice upgraded Denbury Resources from a “hold” rating to an “accumulate” rating in a research report on Wednesday, August 15th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Denbury Resources currently has a consensus rating of “Hold” and a consensus target price of $3.59.
About Denbury Resources
Denbury Resources Inc operates as an independent oil and natural gas company in the United States. It holds interests in various oil and natural gas properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
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